Tag Archives: International Conference of Shopping Centers

May 23 2015

Upscale Eateries Give Struggling Malls A Lift

After perusing a few boutique stores and getting her hair done at Rizzieri Salon & Spa at Moorestown Mall, Jamie McCulloh-Martin decided to go for dinner at Osteria a few doors down.

“I’ve been here more in the last 1½ years since [Osteria] opened than in all of my 22 years living in Moorestown,” said McCulloh-Martin, 50, owner of a physical therapy chain, who ate outdoors with her administrative director, Kelly Casio. “The mall is really changing, and for the better.”

In the new mall world order, you can taste Jose Garces’ tacos at Moorestown Mall, Bobby Flay’s burgers at Cherry Hill Mall, and filet mignon at Morton’s – the Steakhouse at King of Prussia Mall.

The mall and high-end restaurants have struck up a marriage that’s holding on to shoppers longer and generating a better return for powerhouse owners such as Pennsylvania Real Estate Investment Trust (PREIT) and Simon Property Group.

Read more at http://www.philly.com/philly/business/20150524_Upscale_eateries_give_struggling_malls_a_lift.html#61pW5raHst0VyXYE.99

May 19 2015

Boscov: Mall At Steamtown Changes Must Get My Approval

Repurposing the troubled Mall at Steamtown as a Reading Terminal-style market, a casino or a skating rink will remain a dream.

That is because the mall’s lease agreement with Boscov’s Department Store allows the anchor tenant to veto significant changes like that, said department store chairman Al Boscov in an interview at The Times-Tribune, a Times-Shamrock newspaper, on Monday.

Boscov’s Department Store will likely be among bidders in the June 1 – 3 auction of the Mall at Steamtown and the goal will be to buy the mall and keep the mall all — or predominantly — retail, he said.

Boscov wants to keep people with ideas of re-purposing the mall, some of whom he called “cranks,” away from the auction scheduled by LNR Partners, the mall’s caretaker since it was taken over by lenders following foreclosure.

Read more:

http://citizensvoice.com/news/boscov-mall-at-steamtown-changes-must-get-my-approval-1.1883885